Life Insurance Corporation of India (LIC) has till date introduced several investment schemes promising impressive returns. Apart from that, the insurance company also ensures security on the invested money.
Recently, LIC announced a new woman-oriented scheme that will help Indian women become self-reliant. Aadhar Shila scheme is an exclusive plan for women aged between 8 to 55 years old. The investors need to invest just Rs 29 per day to get an amount of Rs 4 lakh at the time of maturity.
Aadhar Shila scheme is a guaranteed return endowment plan. Apart from assured returns on the investment plan, LIC is also offering protection coverage for the invested amount. For instance, if the investor dies before the maturity period, LIC will offer financial assistance to kin of the deceased. LIC's Aadhar Shila scheme assures a minimum amount of Rs 75, 000 and a maximum amount of Rs 3, 00, 000 in such cases.
Interested women can invest in the scheme for a minimum term of 10 years and the maximum term is 20 years.
How To Enter The Scheme?
The investors will require Aadhaar Card to open an account in the LIC Aadhar Shila scheme. One can visit a nearby branch or contact a LIC agent to open an account and start making the investment.
How Will Investors Get Rs 4 Lakh On Maturity Of The Scheme?
The women investors need to invest Rs 10, 959 annually along with 4.5 per cent tax for 20 years. If reduced to a daily basis, the investment amount will be around Rs 29 per day.
When summed up, the investors will pay Rs 2,14,696 to LIC in 20 years. On maturity, LIC will return Rs 4 lakh for the investment. Investors have the choice to pay their premiums on a monthly, quarterly or half-yearly basis.